For decades, the US and Europe have been incredibly short-sighted in how they deal with China.
We have poured money into the country in the pursuit of [insert cheap commodity of your choice here], here in the UK, we have let them buy-out business after business. We're even letting them build and run a nuclear reactor for us, and it goes on and on and on
And while this is going on, you have a dictatorship running the place (China, not here :-)) of the likes never seen before in history, from a defence point of view they are much more dangerous than Russia ever was, and we point nuclear bombs at each other (just in case).
China is playing a very long game, and the rest of the world are walking straight into check-mate